Bitcoin Price Could Be 720 Thousand Dollars

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If Bitcoin can show its halving performance in previous years, the value of Bitcoin can be 340 thousand dollars. Whether the prices of Bitcoin (BTC) will increase with the halving, which takes place every 4 years and we have spent the third time this year, is one of the issues that both investors and those interested in the market are curious about.

ChartsBTC, one of Twitter’s important sources of analysis, shared the lowest and highest price data in the halving cycles of recent years. According to the statement; Bitcoin gained 36 times in the bull run in 2012 and 17 times in the bull run in 2016. This year’s estimates are that BTC could increase its value to $ 720,000 if it is traded at $ 20,000, its highest value so far. Considering that it is not based on the highest price for BTC and repeats the bull run in 2012, the value of Bitcoin could be 340 thousand dollars.

These Are Mathematical Data Only

ChartsBTC stated that targets such as 720 thousand dollars are possible, but also stated that these figures are only a result of statistical data. Stating that the BTC price should be in the range of $ 250,000 – $ 1.6 million in the next 18 months if the rates in the past cycles come to life, ChartBTC also mentioned that it is a very small possibility for this to happen.

The Effect of Halving on BTC Price

Halving means ‘halving’ of the BTC miners earn from the block every 4 years. The goal here is to both reduce the speed of new Bitcoins to circulate and slow them from reaching the limit of 21 million.

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According to some analysts, the decrease in the availability of Bitcoin supply can increase the Bitcoin price rapidly and even see new records as demand increases. Some experts, such as Meltem Demirörs, argue that, contrary to the prevailing opinion in the market, the halving activity will not have such an impact on the BTC price.


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